Tejon Ranch (NYSE:TRC) Sets New 52-Week High – Time to Buy?

Tejon Ranch Co (NYSE:TRC)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $19.61 and last traded at $18.9970, with a volume of 129514 shares. The stock had previously closed at $18.79.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Tejon Ranch from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Tejon Ranch Stock Performance

The company’s 50-day moving average is $17.02 and its two-hundred day moving average is $16.41. The company has a quick ratio of 2.06, a current ratio of 2.66 and a debt-to-equity ratio of 0.19. The company has a market cap of $510.83 million, a P/E ratio of 158.31 and a beta of 0.65.

Institutional Investors Weigh In On Tejon Ranch

Hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in Tejon Ranch in the fourth quarter valued at approximately $389,000. Clayton Partners LLC purchased a new stake in Tejon Ranch in the fourth quarter worth $279,000. Almitas Capital LLC bought a new stake in shares of Tejon Ranch in the fourth quarter valued at $1,469,000. AQR Capital Management LLC raised its stake in shares of Tejon Ranch by 11.8% in the fourth quarter. AQR Capital Management LLC now owns 11,970 shares of the real estate development and agribusiness company’s stock valued at $189,000 after buying an additional 1,265 shares during the period. Finally, Nitor Capital Management LLC purchased a new position in shares of Tejon Ranch during the 4th quarter valued at $21,227,000. Institutional investors own 60.63% of the company’s stock.

About Tejon Ranch

Tejon Ranch Corporation (NYSE: TRC) is one of California’s largest private landowners, with a diversified portfolio spanning agriculture, real estate development and natural resource operations. Headquartered in Lebec, California, the company’s holdings encompass approximately 270,000 acres in Kern and Los Angeles counties. Established in 1937 on the historic Rancho Tejon land grant, Tejon Ranch has leveraged its strategic location along Interstate 5 to build a multifaceted enterprise serving both local and regional markets.

In agriculture, Tejon Ranch grows a variety of row crops and permanent plantings, including almonds, pistachios, table grapes and citrus.